Eye on Asia | Thailand, the Land of Smiles, is beaming on tourists, blockchain and cryptocurrencies alike to promote technological innovation
- Thailand’s National Innovation Agency is providing access to over 44 billion baht (US$1.4 billion/HK$11 billion) in funds
- Along with dedicated innovation hubs in Bangkok and Chiang Mai, the Thai government is aiming to nurture up to 3,000 start-ups within the next 10 years
As digital landscapes shift between the new and the old, blockchain and cryptocurrencies have quietly risen in popularity, particularly as countries experiment with emerging technologies.
With power increasingly framed by Asia’s soft ambitions as the region embarks on more persuasive methods of influence, the continent’s blockchain market is projected to grow by an estimated 87 per cent , with the next chapter of adoption likely to unfold within the East.
Even as Asia continues its advance, the industry has had to contend with an ambiguous legal environment, as countries within the region adopt varied stances on the regulatory spectrum.
Explainer: What is an ICO and why is China’s central bank banning it?
The flurry of government activity and the topsy-turvy fortune of nascent technologies across the region point to an audience sure of blockchain’s future, but hesitant of the path ahead as the road forks.
